The banking scandal: an era of new standards for professionals?

Article Abstract:

Securities professionals should reconsider their standards of practice in the light of the enforcement action by the Office of Thrift Supervision towards the law firm Kaye, Scholer, Fierman, Hayes & Handler. Areas to consider include dealing with tribunals, attorneys' ethics, pretrial penalties, judicial action coincident with administrative action, pretrial publicity, accountability of counsel for the client, overlapping regulatory powers, administrative power and information requests.

Banking law

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Misappropriating certainty from the securities markets: a practitioner's primer on the O'Hagan decision

Article Abstract:

The US Supreme Court's 1997 decision in US v. O'Hagan has several implications for securities dealers. The court found O'Hagan guilty of securities fraud and may encourage the SEC to push other novel fraud theories. Internal procedures should be carefully followed regarding portfolio company information, Chinese wall procedures should be supported, and personal trading by corporate insiders should be monitored to avoid O'Hagan situations.

United States, Securities fraud

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MD&A through the eyes of management: a closer look at the SEC's Caterpillar decision

Article Abstract:

The SEC has reinforced its position that management discussion and analysis (MD&A) is essential information for investors. In re Caterpillar, Inc., Sec Exchange Act Rel No 30532 (Mar 31, 1992) is an example of the SEC taking enforcement action because it found MD&A inadequate. The SEC holds that MD&A is an opportunity for investors to see 'through the eyes of management,' and that managers have an obligation to report significant trends.

Analysis, Disclosure (Securities law), Corporation reports, Company reports

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